Gathering rewards for answering the daily question or referring friends has enabled many members to start their crypto journey.
To move to the next step, we must now act collectively to ensure that the rewards we have gathered so far become as valuable as possible in the future.
In short, that means becoming active contributors and stakeholders, and not just taking free rewards. If we don’t all commit to these small steps, we risk rewards becoming worth nothing in the future.
Based on Feedback from our Community
In the spirit of Web3, stakeholders earn the right to vote on decisions impacting the platform.
We reached out to every member who has purchased HI – including investors large and small, as well as YouTube influencers – to ask for their opinion on what actions we can take to optimize the way rewards are claimed and distributed.
Following several iterations, starting March 1st 2022, some new measures will be implemented in the best interest of our token, platform and community, and for the following reasons:
- Increase number of active contributors amongst membership base
- Make more members aware of the benefits to be gained via core financial products & services
- Ensure Rewards are distributed sooner to the most active and supportive stakeholders
Please take the time to read and understand what these measures mean for you.
Rewards Update from 1st March 2022
💰 Unlocking Rewards
When will my rewards unlock?
Rewards will unlock on the first day of each month, starting March 1st 2022. Much sooner than originally planned.
Will all my rewards unlock right away?
You cannot start unlocking rewards until you have 100 HI staked (ie. in Vault + Earnings combined), meaning you will need to buy HI to start unlocking.
Rewards will unlock based on the amount of HI staked, (minimum of 100 HI).
For example, if you have 500 HI in rewards, 100 HI in Vault and 0 HI in Earnings. You will unlock 100 HI on March 1st, leaving 400 HI in Rewards.
What are “active” rewards?
Only “active” rewards will unlock, meaning those that have been earned by members who have passed ID Verification (KYC). Soon, you will be able to see an overview of your active & inactive rewards in the Web App, as well as which of your downstream friends have passed KYC.
ID Verification has been a criteria for rewards unlock since day 1.
Note, that if your downstream friends do not become eligible for rewards unlock via staking, but they have KYC’ed, you will still unlock the rewards you have previously earned via them.
Where do unlocked rewards go?
When rewards unlock on a monthly basis, they will move into Vault with a 1-Year Daily release term, after which they will become Flexible HI.
So instead of unlocking after a year as previously planned, your rewards will now unlock sooner, with a daily release throughout the course of 365 days.
To unlock all my rewards, do I need to buy the same amount of HI as I have in Rewards?
No. You can unlock your Rewards bit-by-bit by buying a small amount of HI to begin with. As rewards unlock from Rewards to Vault they become “staked,” meaning that each month the amount of rewards you will unlock will double.
For example:
Month 1 If you buy 200 HI, you’ll unlock 200 HI from Rewards
Month 2 You have 200 + 200 staked, so you’ll unlock 400 HI from Rewards
Month 3 You have 200 + 200 + 400 staked, so you’ll unlock 800 HI from Rewards
etc…
Alternatively, you can buy the equivalent amount of HI and unlock all your rewards right away.
What happens if I don’t unlock my rewards?
Rewards that are still locked after 365 days from the start date they were claimed will be burned, starting May 2021. The daily rewards program will last until the entire “Launch Incentives and Distributions” pool is exhausted.
How can I get even more value out of my rewards?
Once your rewards unlock, you can deposit them in Earnings and earn up to 40% APY. Remember depending on how many HI you have staked, you’ll also be assigned a membership tier with additional financial and lifestyle benefits.
As a further incentive, members will get a referral bonus of 10% and 5% if a direct downstream referral purchases HI under the 4 year and 1 year daily release options.
What if I can’t afford to stake 100 HI to become eligible for rewards unlock?
Based on the current 1-Year daily release price, 100 HI is approximately $25-35 US. While we appreciate this is not an insignificant amount for everyone, we believe it to be very reasonable based on the rewards to be gained and the additional membership benefits available – as well as the long-term potential of HI. If you prefer, you can invest little-by-little to get up to 100 HI.
🎁 Claiming Rewards Ongoing
Soon, we will make updates relating to claiming of rewards via the daily question. These updates will be subject to revision, and may change over time.
Much like Airdrops or Bounties, these updates are designed to ensure that the most active and contributing members of the community are rewarded the most.
Soon, in order to claim rewards via the daily question members must:
- On a rolling 7 day period, refer at least one friend to join hi. (ongoing requirement)
- Within 14 days of joining hi, complete identity verification /KYC. (one-off requirement)
- Within 30 days of joining hi, deposit crypto or buy HI worth at least 25 USD (one-off requirement)
Members must complete all of these steps ongoing in order for rewards claiming to remain active.
So what do you do next?
Starting with the new Whitepaper, do your own research about hi and assess whether you want to become a fully signed-up stakeholder. Consult your fellow community members, connect with our moderators, ask the opinion of one of the YouTube influencers who possibly brought you here in the first place.
Remember, these changes are designed to drive more value into our token, and thus your investment and rewards.
In the meantime, we will continue to work tirelessly on developing the hi Super App and ecosystem of services, we’re confident 2022 will be a year none of us will forget.
Still have questions?
This week, on Thursday, January 27th, at 9:30 am UTC, we’d like to invite you to join an #AMA with hi Co-Founder Sean Rach.
Tap on the button below to pre-submit your question. Feel free to submit your question in your native language and we’ll do our best to translate.
We’ll post links to the #AMA on our Twitter page on Thursday, here are the details:
Date: Thursday, January 27th, 2022
Time: 9:30 am UTC
Join via: Twitter Livestream @hi_com_official
*If you aren’t available to join, don’t worry we’ll post a recording of the #AMA to our Social Media channels. Go ahead and submit your question anyway.